SOURCE: San Gold Resources Corp.

June 22, 2005 09:00 ET

San Gold Resources Corporation and Gold City Industries Ltd. Announce Approval of Shareholders for Amalgamation

BISSETT, MB -- (MARKET WIRE) -- June 22, 2005 -- Mr. Hugh Wynne, Chairman and Chief Executive Officer of San Gold Resources Corporation ("San Gold") (TSX-V: SGR), and Mr. Fred Sveinson, President and Chief Executive Officer of Gold City Industries Ltd. ("Gold City") (TSX-V: GC), are very pleased to announce that the shareholders of both San Gold and Gold City voted to approve the proposed amalgamation (the "Amalgamation") of San Gold and Gold City at their respective shareholder meetings held yesterday. Additionally, effective yesterday, Gold City was continued from British Columbia to Manitoba as a Manitoba company. It is anticipated that the formal closing of the Amalgamation will take place by the end of June.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information contact:
    Dale Ginn
    President
    San Gold Resources
    (204) 794-5818
    www.sangoldcorp.com

    Fred Sveinson
    President and CEO
    Gold City Industries
    (604) 682-7677
    www.gold-city.net